Asia top stories – weekly summary
ICIS Editorial
05-Feb-2024
SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 2 February 2024:
Asia
R-PE spot market mood bolstered by PE price
hikes
By Arianne Perez 02-Feb-24 12:11 SINGAPORE
(ICIS)–Buying appetite for recycled
polyethylene (R-PE) in Asia has been
significantly diminished due to inflationary
pressures, along with the recent spikes in
shipping costs.
Snug
supply props up Asia MEG; discussions to wane
as holiday nears
By Judith Wang 02-Feb-24 14:08 SINGAPORE
(ICIS)–Snug supply has pushed up Asia’s
monoethylene glycol (MEG) prices to the peak so
far in 2024, but spot discussions are expected
to wane in the coming week ahead of the Lunar
New Year holiday.
Cold
snap disrupts China’s chemical freight
market
By Hwee Hwee Tan 01-Feb-24 13:05 SINGAPORE
(ICIS)–An unusually frigid winter weather has
been holding up China’s port operations,
tightening tanker supply and pushing up
chemical freight costs into February.
INSIGHT: Asia
PX-PTA-polyester chain margins expected to
remain concentrated in the upstream in
2024
By Jimmy Zhang 01-Feb-24 22:54 SINGAPORE
(ICIS)–Paraxylene capacity in Asia expanded at
a compounded average rate of 11.6% from 2018 to
2023, ICIS data show, However, across the
PX-purified terephthalic acid (PTA)- polyester
value chain margins remained focused on the
upstream. That focus for profitability is
expected to continue in 2024.
Asia
ethylene sees headwinds amid curbed arbitrage,
greater competition
By Josh Quah 31-Jan-24 12:55 SINGAPORE
(ICIS)–On the surface, Asia’s ethylene (C2)
markets have looked to draw strength from
pre-Chinese New Year restocking.
Major
producer diverts acetic acid, VAM supply to
Europe from Asia
By Hwee Hwee Tan 30-Jan-24 14:19 SINGAPORE
(ICIS)–A major producer has decided to
prioritise exports of acetic acid and vinyl
acetate monomer (VAM) to Europe as the Red Sea
crisis piled delays on inbound shipments,
tightening supplies in Asia through to
February.
INSIGHT: NE Asia C3
braces for weak demand, SE Asia support likely
in short term
By Julia Tan 29-Jan-24 13:00 SINGAPORE
(ICIS)–The average weekly price for spot
propylene (C3) imports in northeast Asia
continued to climb last week on restocking
demand ahead of the Lunar New Year holidays and
on recent gains in the southeast Asian spot
markets.
Asia
naphtha bullish on supply crunch despite weak
petrochemical margins
By Li Peng Seng 29-Jan-24 09:33 SINGAPORE
(ICIS)–Asia’s naphtha prompt supplies are
expected to stay tight as unrest at the
Red Sea and Black Sea regions will continue to
affect supply flows.
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